RSA Canada Acquires GCAN Insurance From Teachers'

On January 7, 2011, Roins Financial Services Limited, parent company of Royal & Sun Alliance Insurance Company of Canada completed its acquisition of GCAN Insurance Company and its parent Glenstone Capital Incorporated for $420,000,000 from Ontario Teachers' Pension Plan Board and certain other minority shareholders.

RSA Canada was represented by Robin Richardson, its General Counsel, and Kerry DiFruscio, its Legal Counsel, who were assisted by McMillan LLP with a team led by Chris Germanakos, and including Sandra Sbrocchi, Anastasia Mamay (corporate, mergers & acquisitions); David Wentzell, Andrew Stirling (tax); Mark Opashinov, Sorcha O'Carroll (regulatory) and David Elenbaas (labour and employment).

Ontario Teachers' Pension Plan Board was represented by Jeff Davis, Vice-President and Associate General Counsel, and Greg Harnish, Legal Counsel, Investments, who were assisted by Torys LLP with a team that included Matthew Cockburn, Guy Berman, Ryan Unruch, Huw Evans and Christian Thatcher (corporate); John Unger (tax); Blair Keefe, Omar Wakil and Sue-Anne Fox (regulatory) and Christina Medland (labour and employment).

The minority shareholders were represented by David Woolford of Miller Thomson LLP with assistance from Christine O'Donohue (labour and employment).